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20100916
20100916
Search Results 0 to 5 of about 6 (some duplicates have been removed)
and doesn't help the u.s. economic recovery. but geithner said he was not prepared to label china a "currency manipulator" under u.s. law. >> tom: that reluctance was all too familiar to members of congress, and they grilled geithner with hostile questions. darren gersh reports. >> reporter: even the senators grilling the treasury secretary today admit hearings on china's overvalued currency have become something of a ritual over the years. it begins with the expression of outrage from senators like new york's charles schumer. >> at a time when the u.s. economy is trying to pick itself up off the ground, china's currency manipulation is like a boot to the throat of our recovery. and this administration refuses to try to take that boot off our neck. >> reporter: then, it's the treasury secretary's turn to share concern, to offer tougher rhetoric, and then to explain that declaring china a currency manipulator under the current law will do little more than require more consultations, as treasury secretary geithner explained today. >> wishing something does not make it so, and issuin
, the yen, and bought u.s. dollars. the idea is to drive down the value of the yen versus the dollar, making japan's currency cheaper. >> wolfgang koester is the c.i.a. at a firm that. welcome back to "nightly business report." what companies do you think get hurt by this japanese yen intervention? >> the people that are going to get hurt are the people that are looking to -- that have costs in japan, more than the people that are looking at the revenues. what is really important is for corporations and their investors to understand where the corporations have the exposures on the revenue, as well as the costs. for example, net exposure side. >> tom: so when you're talking about the cost side, these are companies that have some kind of manufacturing or services based in japan that could get hurt by this intervention, right? >> precisely. that's absolutely correct. that's what we're seeing at fireapps. we're seeing companies coming and looking and trying to see how this yen appreciation impacts them, and there is a focus on the second part of this, which is the cost focus. >> tom: i imagine a
Search Results 0 to 5 of about 6 (some duplicates have been removed)